German insurer backs Aukera Real Estate Debt Fonds II

German investment boutique Aukera Real Estate has collected €66 million ($78 million) in capital commitments for its newly launched Aukera Real Estate Debt Fonds II.

The investor was a German insurer.

Fonds II is seeking to raise €350 million ($413 million) to invest in real estate debt in continental Europe and is exclusively available to institutional investors.

In September 2020, Aukera held a similar first closing of its initial real estate debt fund, with a €275 million ($324 million) commitment coming from a German life insurance company.

“Due to the structure of our two subfunds I and II, we can achieve club deals for investors that allow us to provide high loan volumes on our own,” said Lars Armgart, CEO of Aukera. “The subfunds involved can therefore diversify their investments with a broader spread of risk.”

Aukera has already received a total of €695 million ($820 million) in commitments for its two subfunds.